The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
China economy
Economy /  China Economy

China’s cut of US dollar weighting in key index will boost global fortunes of yuan, economists say

  • China has cut the US dollar weighting in a key yuan exchange rate index for only the second time since 2015
  • The change will help reduce China’s reliance on the American currency and promote greater international use of the yuan in financial transactions

Topic |   China economy
Orange Wang
Orange Wang

Updated: 2:58am, 3 Jan, 2020

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The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
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